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International Elevator & Escalator, Inc. (IEE) began as a joint venture agreement among Mitsubishi Electric Corporation. The company envisioned itself as a primary provider of first class mechanical products and exceptional services for both commercial and residential buildings. IEE also launched its air-conditioning business and changed its corporate name to International Elevator & Equipment, Inc. (IEE). Through the years, IEE continued to expand its products and services. Today, IEE belongs to Mitsubishi Electric Corporation Group. IEE also has Mitsubishi Corporation, Mitsubishi Electric Building Techno-Service Co., Ltd. Of Japan and Mitsubishi Electric Asia Pte. Ltd. as shareholders.